AML Rules

The Financial Conduct Authority (FCA) has announced that a “significantly high number” of crypto firms operating in the UK are failing to meet current anti-money laundering (AML) rules. The regulator pointed out that up to 50 companies dealing in crypto had withdrawn applications for the Temporary Registrations Regime (TRR) issued last year. The permit allowed crypto service providers to continue trading until the FCA could formally approve or reject their operations. We are extending the Temporary Registrations Regime for existing…